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"Drop that much in value after the foreclosure..."

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Wait for it to foreclose, you have 90 days after that to pay FMV rent to the bank (they do not have to accept less) and obtain funding. They are required by law to offer it for sale to the public though, there is no "first dibbs".
I do not know where these people get the idea that it will drop that much in value after the foreclosure.
If you want you can send me the address and I can give you a pretty good idea of what the FMV will be, the banks will not accept less then about 90% of that. They do not care if you don`t buy and the house sits vacant, as they get a write off for that. I invest in this market (No. CA) and am pretty good at figuring this one out.

mauisnshn said: i am awaiting my disability hearing on dec. 8th i have a lawyer and he says he sees no problem with me recieving my disability . but i need to hold out vuntil then is there any way i can get the bank 2 work with me. i have 4 kids under the age of 14. Plus we have nowhere 2 go. I can only afford half of my payment right now and i dont know how to go about working with the bank and i am scared 2 call them again. I am about 3 months behind i do not want a short sale or a forclosure i just want long enough 2 have my hearing. I am about 3 months behind i do not want a short sale or a forclosure i just want long enough 2 have my hearing

"Months then they will proceed with its foreclosure formalities..."

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Bank always intimate their customers before the due date of their payment but it they fail to do so for continuous period of three months then they will proceed with its foreclosure formalities. With your own checks you can easily track the due dates of your payment and can make it easily. You can place your order for customize checks on https://www.checkomatic.com/business-checks/for-less.php so it will help you to avoid unnecessary delay.

"And then start with its process of foreclosure..."

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The bank will wait for a person to make his payments from the due date of payments and then start with its process of foreclosure, if the person stops making his payments. The wait time for banks is usually 90 days estimated to 3 months during which the mabnk waitd for the customer to pay back his dues , but if he fails to do so, the bank proceeds with foreclosure . Tim Doubtson.

"Varies some people have been able to live in their home up to 2..."

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It varies some people have been able to live in their home up to 2 years before the back sends them forclosure papers. i didn`t pay my mortgage for 6 months before I received papers of intent to forclose and it took 2 more months to have our mortgage reorganized.

Ireceive anotice of hearing from layers for fanie mae but the motage come that ibeen working with says that idideverything that they need for me to keep the home can they still for closure aldo iam working with the motage company idont wont to file bankrupty at all pleae give ander in sc.

"When the foreclosure process will start..."

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When the foreclosure process will start, The person will receive a notice after missing the payments, if he will still not response anything ,they will ask the person to vacate/ leave the house . The person can stay in his house for about 2 months, after foreclosure. . . . . .

"Foreclosure process can take from two months to a year ..."

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Foreclosure process can take from two months to a year , you also have many options after the foreclosure process starts, you can request a loan modification or other payment options, you can also ask for a delay.

Someone said: You have to be evicted. Once the sheriff sends you an eviciton letter, wait till the last day, and write a response. They will give you a court date. It may be one or two months in the future. Don't show up for court. Then, the courts will send you a notice of when you have to be out. It took about 4 months before I acutally got evicted. They can still garnish your wages.

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How long can you stay in a bank owned house before getting kicked out?